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Italy's slow economic recovery since 2014 is finally gathering pace, but the upturn is likely to prove short-lived as few, if any, of its structural problems have yet been fixed. Those Italian companies that are internationally competitive are performing strongly and hiring staff, helping gross domestic product to jump 0.5 percent in the first quarter.The company recently hired around 10 workers to bring its total Italian workforce to 96, and its turnover has risen steadily to an estimated 12 million euros (almost $14 million) this year.Italy's jobless rate of 11.1 percent and its youth unemployment at 35.7 percent remain among the highest in the European Union.Italy is being tugged along by strong European and global growth but it remains the eurozone's most sluggish performer. The International Monetary Fund forecasts the economy will grow 1.5 percent this year, which is strong by Italian standards and in line with Rome's own estimate.The ECB has bought more than 300 billion euros of Italian government bonds since March 2015, ensuring low interest rates for a country that spends 70 billion euros every year servicing its debt.Bellco, a northern Italian company that makes dialysis machines and employs over 300 people in Italy, took advantage of the incentives by investing 13 million euros in machinery this year and 10 million in R&D.
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